PYMNTS

APRIL 29, 2020

Any small business getting an emergency coronavirus loan from the Small Business Administration (SBA) greater than $2 million will be subject to an audit, Treasury Secretary Steven Mnuchin said. Mnuchin said the law is clear that borrowers, not banks, “face criminal liability for making certifications that weren’t true.”.

Audit 61

Audit Small Business Payroll Treasury 61

PYMNTS

AUGUST 14, 2020

Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. auditing standards by the end of next year. That includes opening up their audit records to U.S. regulators, a move that would put the firms in conflict with secrecy laws in China. 14), per the report.

P2P 126

P2P Law Enforcement Audit Non-Bank 126

Fintech Review

JANUARY 30, 2025

With recurrent checks of counterparties and providers, as well as ongoing audits; Information exchange. According to DORA, market participants must conduct systematic stress tests with the various breach scenarios; Third-party risk management. Theres no clear requirement on this point.

Regulations 98

Regulations Risk Management Participant Cybersecurity 98

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Audit 52

Audit Automation Bots Risk Assessment 52

PYMNTS

JULY 2, 2020

The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 Auditors should be required “to find fraud rather than stumble over it,” Donald Brydon , appointed last year to overhaul audit standards in the United Kingdom, told the Financial Times.

Audit 56

Audit Law Enforcement Mitigation Settlement 56

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. We will also cover how automation helps to streamline the AP audit procedure. What is an AP Audit?

Audit 52

Audit Accounts Procedures Compliance 52

FloQast

NOVEMBER 20, 2023

Internal auditing ensures an organization’s financial integrity, compliance with regulations, and overall operational efficiency. One of the first steps in carrying out an effective internal audit is to perform an internal audit risk assessment. What Is an Internal Audit Risk Assessment?

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

VISTA InfoSec

JULY 17, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages. Outline regular audit processes to check compliance with these policies.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

Clearly Payments

NOVEMBER 13, 2024

New processors must be prepared to demonstrate compliance and may need to undergo regular audits to meet these standards. Data Security and Privacy Regulations : Payment processors need to comply with data protection laws, such as GDPR in Europe or CCPA in California, to ensure the safety of customer information.

Process 104

Process Processors Payments Compliance 104

VISTA InfoSec

SEPTEMBER 28, 2023

This new law, approved by the president on August 11, 2023, dictates how organizations handle personal data. Until then, businesses should adhere to existing Indian privacy laws, primarily the Sensitive Personal Data or Information Rules (SPDI) 2011. The Digital Personal Data Protection Act (DPDP) has been passed in India.

Privacy 130

Privacy Audit Data Breach Breach 130

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Audit 52

Audit Compliance Automation Verification 52

VISTA InfoSec

FEBRUARY 25, 2024

You may face legal/regulatory penalties for violating disclosure laws. Conduct audits periodically post-partnership. How Breaches Impact You Suffering a breach carries severe consequences beyond just data loss. Forensics and recovery costs pile up fast while operations get disrupted for weeks investigating the breach.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

PYMNTS

APRIL 28, 2019

A research group revealed that it has discovered “serious shortcomings” in the predictive tools used by law enforcement agencies. And it’s not just these researchers that believe the technology is flawed.

Law Enforcement 58

Law Enforcement Laws Risk Assessment AI 58

The Payments Association

JANUARY 13, 2025

Divergence from common law jurisdictions According to the TPA response, the Bills approach could set the UK apart from other major common law jurisdictions, including Singapore and Australia. Both countries have opted to integrate digital assets into existing property law frameworks instead of creating separate categories.

Legal 88

Legal Stablecoins Cross-Border Due Diligence 88

Nanonets

MAY 8, 2023

If not, it may be time to rework your current accounting policies to implement audit trails. Despite what many business owners believe, audit trails aren’t reserved only for companies that receive an audit. Audit trails can prevent fraud, aid in disaster recovery, and ensure compliance with regulatory agencies.

Audit 52

Audit Procedures Disaster Recovery Reconciliation 52

Fintech News

AUGUST 21, 2024

Binance has already handled 63,000 law enforcement requests in 2024, up from 58,000 in the previous year, underscoring the increasing regulatory scrutiny. However, the company has yet to establish a global headquarters or release fully audited financial statements.

Compliance 129

Compliance Law Enforcement Money Laundering Agreements 129

Fintech News

FEBRUARY 10, 2025

With Agentic AI systems processing vast amounts of sensitive financial data, including personal and transaction details, regulators must ensure that these systems comply with stringent data protection laws, such as GDPR or CCPA. Also, the autonomous nature of the AI means decision-making is often removed from human oversight.

AI 75

AI FinTech Fraud Detection Fraud Prevention 75

Fintech Review

APRIL 20, 2025

This includes data protection laws such as GDPR, operational resilience frameworks, and specific financial sector regulations. Cybertech platforms often include compliance dashboards, audit trails, and automated reporting tools. Institutions must conduct regular testing, report incidents, and show they can recover from disruptions.

Finance 59

Finance Security Fraud Detection Encryption 59

PYMNTS

OCTOBER 21, 2019

21), following news of an independent audit by KPMG. Wirecard said the auditing company will have “unrestricted access to all information on all levels of the group.” The audit follows a report in the Financial Times that accused the company of accounting irregularities.

Audit 40

Audit Laws Procedures Accounts 40

VISTA InfoSec

SEPTEMBER 27, 2024

They are appointed based on article 37 of GDPR , and help organizations stay compliant with data protection laws by overseeing data security policies, monitoring internal compliance, and providing expert advice for staffs managing the potential data privacy risks. Working closely with the supervisory authority on processing-related matters.

CCPA 130

CCPA Privacy Assessments Laws 130

PYMNTS

DECEMBER 18, 2020

auditing standards by the end of next year, including opening up their audit records to U.S. regulators, a move that would put the firms into conflict with secrecy laws in China. auditing rules. The move came as Treasury Secretary Steven Mnuchin warned that Chinese firms that wanted to be listed on U.S.

Audit 107

Audit Regulations Treasury Laws 107

PYMNTS

MAY 1, 2020

Mnuchin: All PPP Loan Recipients Will Face Audits. Treasury Secretary Steven Mnuchin said per reports that firms that borrow money via the Paycheck Protection Program (PPP) can expect to be audited prior to forgiveness of the loans. The Balancing Act Between PPP’s Letter And Spirit Of The ‘Law’.

Audit 57

Audit Posting Cross-Border Shutdown 57

PYMNTS

DECEMBER 21, 2020

The Wirecard scandal has gone in multiple directions since the company's downfall earlier this year, with auditors EY caught up in the fray over their reported mismanaging of Wirecard's audits for years, as well as Deutsche Bank head of accounting Andreas Loetscher having to step down over his own role at EY in years past.

Laws 77

Laws Legal Audit Crime 77

Fintech News

FEBRUARY 21, 2024

If violations are proven, the OJK said that it will take necessary actions, potentially collaborating with law enforcement officials. million is allocated for legal and audit fees, US$750,000 is designated for retrenchment costs, US$500,000 for credit insurance and collections expenses, and US$100,000 for rent. An additional US$1.15

Law Enforcement 117

Law Enforcement Audit Authorization Consumer Protection 117

PYMNTS

NOVEMBER 4, 2019

4) that MPs say an “urgent” new law must emerge to introduce corporate finance and auditing reforms in the wake of the failures of Thomas Cook and Carillion. government has so far failed to adequately address the issue despite its warnings sent to the auditing industry and to large corporates. Finance U.K.

Audit 40

Audit Mitigation NOV Finance 40

VISTA InfoSec

FEBRUARY 13, 2024

Audits play a complementary role by ensuring that existing security measures align with both internal policies and external regulatory requirements. In jurisdictions where regulatory compliance is stringent, such as in Singapore, audits are an indispensable part of the cybersecurity framework.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

VISTA InfoSec

SEPTEMBER 14, 2023

We will examine the effects of GDPR in the US and how businesses can adhere to this European privacy law. It’s important to note that the law extends to any EU resident, irrespective of citizenship. EU citizens in the US are protected by US federal and state laws like CalOPPA, COPPA, CCPA, and CDPA. GDPR and U.S.

Compliance 130

Compliance Privacy Legal Processors 130

The Payments Association

FEBRUARY 10, 2025

Voices from the industry Businesses subject to the Failure to Prevent Fraud offence must understand their legal obligations under the new law. While the law primarily targets large firms, smaller businesses may also face scrutiny depending on their activities.

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

PYMNTS

OCTOBER 23, 2020

Lufax is one of many Chinese companies rushing to file for an IPO ahead of the new federal disclosure laws. auditing principles. Under one of the standards, it would require that firms open their audit records to U.S. authorities, which would essentially be a violation of Chinese secrecy laws. .

Audit 72

Audit Laws P2P Authorization 72

Fi911

APRIL 15, 2025

For financial professionals, staying informed about the specific laws in your operating region is crucial. Conduct routine audits of your billing practices to ensure compliance. Different countries and regions (e.g., Canada, the UK, the EU) have their own frameworks, often with similar consumer protection aims.

FTC 59

FTC Federal Trade Commission Legal Best Practices 59

Segpay

OCTOBER 17, 2024

Compliance and Accountability : User-based verification provides a clear audit trail, making it easier for companies to prove compliance with age verification laws and regulations. Legal and Regional Considerations Age verification methods vary by region, influenced by local privacy laws and cultural preferences.

Verification 111

Verification Privacy Laws Compliance 111

Segpay

OCTOBER 23, 2024

Evolving Regulatory Landscape: Laws and regulations are constantly changing, and what was compliant yesterday may not be today. Monitoring tools that flag potentially risky content before it gets uploaded, as well as regularly auditing business practices, can help mitigate risks and avoid the dreaded “takedown” notices.

Compliance 98

Compliance Non-Bank Legal Processors 98

VISTA InfoSec

OCTOBER 21, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages. Outline regular audit processes to check compliance with these policies.

Cybersecurity 147

Cybersecurity Compliance Encryption Best Practices 147

The Payments Association

FEBRUARY 10, 2025

To navigate diverse vIBAN regulations, PSPs should establish a global compliance framework adaptable to local laws. Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

NOVEMBER 29, 2018

There is a long list of industry stakeholders in that chain, including talent agencies, production companies, entertainment industry law firms and more. Issues like “over-exaggeration of expenses and failure to disclose licensing terms” are also key to limiting transparency of the industry’s financial supply chain.

Cryptocurrency 54

Cryptocurrency Audit Blockchain B2B 54

Fintech Finance

SEPTEMBER 20, 2024

The government will consult on tough new laws which will hold larger firms to account and get cash flowing back into businesses – helping deliver our mission to grow the economy. The Business Secretary has clearly recognised the importance of eradicating bad payment culture, which so devastates the UK supplier base and holds back growth.

Small Business 97

Small Business Governance Government Payments 97